If a capital asset acquired August 5, 2017 is sold on February 6, 2018, any gain is a short-term capital gain.

Question

Quizplus · Accepted Answer

If the asset is held for less than one year, it is considered a short-term capital asset and any gain from its sale would be a short-term capital gain. In this case, the asset was held for less than six months (from August 5, 2017, to February 6, 2018), so any gain would be considered a short-term capital gain.

If a Capital Asset Acquired August 5, 2017 Is Sold